Greek debt crisis: Greece finally in arrears as it fails to meet deadline for IMF payment June 30, 2015 Greece has officially become the first Western country to go into arrears on its debt to the International Monetary Fund (IMF) after failing to meet last night’s deadline for a repayment of €1.5bn (£1bn), despite a last-ditch attempt to reach a deal with its creditors yesterday. The IMF confirmed late last night that the [...]
Greece has missed its deadline to repay €1.6bn to the IMF June 30, 2015 Just as all the markets expected, Greece has not met its deadline to repay €1.6bn (£1.1bn) to the IMF. Read more: Germany won't discuss Greek bailout deal until after Greek referendum The amount, which constituted a bundle of loan repayments from the month of June, was due by 11pm on Tuesday evening. Greek [...]
Fitch downgrades Greece’s credit rating to CC, which is one point above “inevitable” default June 30, 2015 Fitch has downgraded Greece further in junk status, down from CCC to CC. It is now just one point above what is deemed to be a certain default. Read more: Germany won't discuss Greek bailout deal until after Greek referendum The ratings agency, which is the second to downgrade the beleaguered economy in two days [...]
Greece could face a huge shortage of life-saving medicines if it defaults on today’s IMF payment June 30, 2015 If Greece defaults on its €1.6bn (£1.14bn) repayment to the IMF today, the country could end up suffering a serious shortage of life-saving medicines. Read more: This Londoner is crowdfunding a Greek bailout fund on Indiegogo In a letter written to the European Commission, the European Federation of Pharmaceutical Industries and Associations (EFPIA) called [...]
UK current account deficit should “ring alarm bells” for the UK June 30, 2015 The UK's current account deficit should ring an "alarm bell" for the UK, the British Chambers of Commerce (BCC) said today, after official figures showed the deficit was £26.5bn in the first quarter of the year. The figure – a measure of the UK's success in exports – has narrowed from last year's £28.9bn – [...]
European markets begin second day of falls as Greece confirms it won’t make today’s IMF payment deadline June 30, 2015 The FTSE 100 was 0.6 per cent down in late morning trading today, after Greece confirmed last night it will definitely miss today's 6pm deadline to pay the International Monetary Fund (IMF) €1.6bn (£1.1bn). Read more: George Osborne vows to help Britons hit by Greek crisis Meanwhile, although both the Cac and the Dax fell, [...]
Greece will default on its €1.6bn repayment to the IMF today June 30, 2015 Greece will not pay the €1.6bn (£1.14bn) it owes to the IMF today, Athens has confirmed Read more: How Twitter became Alexis Tsipras’ secret weapon in Greek negotiations The beleaguered country is required to make the repayment to its creditor by 11pm on 30 June, after saying it would bundle all its payments for the month [...]
Here’s why today’s “leap second” is creating anxiety among traders and businesses leaders around the world June 30, 2015 This evening at 8pm New York time (that's 1am over here) clocks around the world will have a “leap second” added to the end of the day. Read more: Daylight Saving Time has arrived – here are seven interesting facts you should know about the clock change It's a necessity resulting from the introduction [...]
Greek debt crisis: George Osborne vows to help British pensioners, businesses and holiday makers June 29, 2015 Chancellor George Osborne has said that the government will protect British pensioners, businesses and holiday makers who stand to lose money in the ongoing Greek debt crisis. In a special statement to the House of Commons yesterday, Osborne said that Britain is “prepared” in a “rapidly changing situation”. “Britain’s attitude to the developing [...]
Chinese stocks plummet amid valuation fears June 29, 2015 China’s equity bubble edged closer to bursting yesterday, as stocks plummeted despite the best efforts of the country’s central bank to steady the market. The benchmark Shanghai Composite index closed 3.3 per cent lower to 4,053 and the Shenzhen Composite fell 6.1 per cent, amid mounting concerns that stocks are overvalued. The Shanghai Composite was [...]